TDS on rented apartment

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 May 2010 If rented to an individual indian resident,is it mandatory for the tenant to deduct TDS and if there are any minimum threshold and what is the rate of deduction .The landlord is a PIO.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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25 May 2010 YES TDS IS REQUIRED TO BE DEDUCTED IF THE AMOUNT EXCEEDS THRESHOLD LIMIT U/S 194I.
PRESENT THRESHOLD LIMIT IS RS.120000/- P.A.
W.E.F. 01.07.2010 NEW LIMIT RS.180000/- P.A.
RATE OF TDS 10%( IF PAN GIVEN BY DEDUCTEE)
OTHERWISE 20%

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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25 May 2010 agreed ,
PIO ?

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taxindiaconnect

taxindiaconnect (Expert)
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25 May 2010 TDS rules does not apply to an individual unless he is subject to tax audit in the immedialty preceeding PY.

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CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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25 May 2010 agreed With mr. Dua.

Querist : Anonymous

Querist : Anonymous (Querist)

26 May 2010 I wish to confirm that I am a Person of Indian Origin and also Non Resident and read that it is the onus of the tenant to deduct TDS @30.9% since I am the landlord.Is this true